“It brings me great sadness to say that Jason and I are separating. This was an extremely difficult decision that as a woman and a mother, I have to accept as the best choice for our family,” Frankel said in a statement Sunday.

“We have love and respect for one another and will continue to amicably co-parent our daughter who is and will always remain our first priority,” the statement continues. “This is an immensely painful and heartbreaking time for us.”

News of their split comes after months of speculation that their relationship was on the rocks. Earlier this summer, the reality TV star, author and talk-show host admitted that she was fighting for her marriage, which was filmed for and subsequently documented on her Bravo reality show Bethenny Ever After.

Frankel, 42, is the creator of the Skinnygirl line of cocktail, food and nutrition products and rose to early fame as a cast member on The Real Housewives of New York. She later starred in Bethenny Getting Married? and as host of her own talk show, Bethenny. As an author, she has published four books.

Frankel met Hoppy at a nightclub in November 2008, and they two became engaged 11 months later. At the time, she told PEOPLE he gave her life stability.

“He’s my anchor,” she said back then. “I fell in love with a regular guy with a regular salary. He taught me that being taken care of was emotional and not financial.”